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Terran Orbital (LLAP) Cash Balance Surges Post Rivada Payment
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Terran Orbital Corporation (LLAP - Free Report) announced the receipt of a long due payment from Rivada Space Networks, a Germany-based satellite communication provider. Earlier in 2023, Terran secured a $2.4 billion contract from Rivada for the development of 300 satellites. The agreement made Rivada the largest customer of Terran Orbital.
Following the receipt of long-due payment, management has confirmed that Rivada has settled all existing outstanding invoices. However, the exact payment amount has been kept confidential by the involved parties. Nevertheless, owing to this payment, Terran Orbital is set to report an excess of $70 million year end cash balance as of Dec 31, 2023. It is a significant sequential uptick from the $38.7 million reported in the September quarter.
This will bolster the company’s financial stability and enable diligent execution of strategic objectives. These developments are expected to boost investors’ confidence. Additionally, Rivada is expected to make further milestone payments in fiscal 2024. Terran Orbital remains confident about fulfilling its delivery commitments per the Rivada contract within the scheduled time frame of 2025 to 2026.
Terran Orbital is a small satellite manufacturer, primarily serving the U.S. aerospace and defense industry. It offers comprehensive satellite solutions by integrating satellite design, production, launch planning, mission operations and on-orbit support to cater to various use cases for military and commercial clients.
Shares of the company have declined 13.7% over the past year against the industry’s growth of 11.8%.
Image Source: Zacks Investment Research
Terran Orbital currently carries a Zacks Rank #3 (Hold).
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U.S. Cellular has undertaken concrete steps to accelerate subscriber additions and improve churn management. The company aims to offer the best wireless experience to customers by providing superior quality network and national coverage. It is well-positioned to support the investment required for network enhancements, including the deployment of 5G technology. The company is well-positioned for continued demand for broadband.
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Terran Orbital (LLAP) Cash Balance Surges Post Rivada Payment
Terran Orbital Corporation (LLAP - Free Report) announced the receipt of a long due payment from Rivada Space Networks, a Germany-based satellite communication provider. Earlier in 2023, Terran secured a $2.4 billion contract from Rivada for the development of 300 satellites. The agreement made Rivada the largest customer of Terran Orbital.
Following the receipt of long-due payment, management has confirmed that Rivada has settled all existing outstanding invoices. However, the exact payment amount has been kept confidential by the involved parties. Nevertheless, owing to this payment, Terran Orbital is set to report an excess of $70 million year end cash balance as of Dec 31, 2023. It is a significant sequential uptick from the $38.7 million reported in the September quarter.
This will bolster the company’s financial stability and enable diligent execution of strategic objectives. These developments are expected to boost investors’ confidence. Additionally, Rivada is expected to make further milestone payments in fiscal 2024. Terran Orbital remains confident about fulfilling its delivery commitments per the Rivada contract within the scheduled time frame of 2025 to 2026.
Terran Orbital is a small satellite manufacturer, primarily serving the U.S. aerospace and defense industry. It offers comprehensive satellite solutions by integrating satellite design, production, launch planning, mission operations and on-orbit support to cater to various use cases for military and commercial clients.
Shares of the company have declined 13.7% over the past year against the industry’s growth of 11.8%.
Image Source: Zacks Investment Research
Terran Orbital currently carries a Zacks Rank #3 (Hold).
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NVIDIA is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit. Over the years, the company’s focus evolved from PC graphics to AI-based solutions that support high-performance computing, gaming and virtual reality platforms.
United States Cellular Corporation (USM - Free Report) , sporting a Zacks Rank #1 at present, is the fourth largest full-service wireless carrier in the United States. The company provides a range of wireless products and services and a high-quality network to increase the competitiveness of local businesses and improve the efficiency of government operations.
U.S. Cellular has undertaken concrete steps to accelerate subscriber additions and improve churn management. The company aims to offer the best wireless experience to customers by providing superior quality network and national coverage. It is well-positioned to support the investment required for network enhancements, including the deployment of 5G technology. The company is well-positioned for continued demand for broadband.
Workday Inc. (WDAY - Free Report) , carrying a Zacks Rank #2 at present, delivered a trailing four-quarter average earnings surprise of 13.24%. In the last reported quarter, it delivered an earnings surprise of 9.29%.
Workday is a provider of enterprise-level software solutions for financial management and human resource domains. The company’s cloud-based platform combines finance and HR in a single system that makes it easier for organizations to provide analytical insights and decision support.